Amazon's Indian venture fund, Smbhav, has invested in direct-to-consumer (D2C) startup FreshToHome, PYMNTS reports.
The move comes as the e-commerce giant works to expand its presence in the global market for perishable consumer goods.
Smbhav Venture Fund led FreshToHome's $104M Series D round.
- The Bengaluru-based startup sells and delivers fresh meat and fish to customers' homes in India and the United Arab Emirates (UAE).
- FreshToHome was founded in 2015 and has grown to become one of the largest players in India's fish and meat market, which is estimated to be worth $100B.
- FreshToHome's biggest challenge will be winning the trust of potential customers, a problem faced by delivery platforms more generally.
- Amazon CEO Andy Jassy noted earlier this month that Amazon's push into the market for perishables would continue to rely primarily on physical stores due to the problem of consumer trust.
